NAIROBI (Xinhua) --
The Kenyan shilling sustained an upward trend
against the U.S. dollar on Thursday closing in the 101.3
The shilling traded
at an average of 101.35 to the greenback, up from Wednesday’s
The Central Bank of
Kenya quoted the local currency at 101.38 per dollar, from
101.62 in the previous session.
The east African
nation’s commercial banks, on the other hand, placed the local
unit at between 101.30 and 101.40 to the dollar, stronger
margins from an average of 101.50.
Currency traders at
financial institutions attributed the rise of the shilling to an
increase in inflows, especially from the agriculture sector.
Against the British
Pound, the shilling rose to a new high of 140.16, from
Analysts say the
shilling is expected to strengthen in the short term against
world currencies as Kenya awaits Eurobond proceeds.